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Economy shrinks for first time in 3 1/2 years[W: 395]

Re: Economy shrinks for first time in 3 1/2 years

OpportunityCost said:
We are still 5% high on taxes versus GDP at 25%. We arent talking spending decreases---we are talking tax increases on a strained private sector. Its possible for things to get worse, not better.
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Yup, I don't see how this will get better. As people and businesses realize just how bad Obama-Care is and Corporations scale back, cut hours and lay-off and our debt climbs even higher because massive deficit spending is Obama's only "solution" we'll see libs come here and cherry pick data to dress that pig up.

It's all BS. What's interesting is this mass acute delusional "event" that we're witnessing. Liberals will not walk back their ideology, nor will they admit just how stupid it was to elect, TWICE the least qualified candidate running.

The Country will go bankrupt as interest on bonds climb and we're no longer able to service our debt and they'll blame "capitalism" or "Bush" and completely ignore the last 5, 6, 8 years of incompetence. Just like they ignore bad job numbers, bad GDP numbers, bad Holiday numbers.

It's a great subject for a future doctorate thesis in a year or two.
 
Re: Economy shrinks for first time in 3 1/2 years

Let me cherry pick another thing, hurricane sandy.
 
Re: Economy shrinks for first time in 3 1/2 years

drz-400 said:
Last GDP report (Q3), the advanced number was 2%, which was later revised to 3.1%.
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But it was BS from the get go.

A GDP number inflated by massive Govt spending and little else. Remove Fed spending with borrowed money and it's actually around 1.6%.

Cmon, your going to post that number without itemizing it as solid proof our economy grew in the third quarter?

Remember, you'll know a liberal is lying, when their mouth is moving.
 
Re: Economy shrinks for first time in 3 1/2 years

drz-400 said:
Let me cherry pick another thing, hurricane sandy.
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LOL !!!!

Obama hate'n on Italian people. Honestly, Hurricane Sandy ?

Is that supposed to convince me that a storm, a Hurricane that regularly hits the South East portions of the US is to blame for a flat, no shrinking economy ? Wow that's desperate.

Hurricane's in the South actually cause an uptick in economic activity due to all of the construction needed to repair the damage left behind.

Why did the Jersey Shore getting washed out cripple the entire US economy ?

See what I'm saying. Mass delusional event. It's happening right before us as one liberal after another tries to, unsuccessfully mitigate the damage of a incompetent President.

I mean cmon, if Obama can't twist the numbers to show two consecutive quarters of plus 3% growth then you guys are screwed.
 
Re: Economy shrinks for first time in 3 1/2 years

Fenton said:
downward is more likely. Nothing in Obama's economy ever gets revised upward, as in things are better off than they thought.
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When the money in this economy finally "gains velocity," i.e. banks start loaning again, there's going to be massive inflation.

When that happens, the Fed will be forced to raise the unnatural interest rates we currently have to try and reign it in......

And the economy will go right back in the crapper.
 
Re: Economy shrinks for first time in 3 1/2 years

Fenton said:
But it was BS from the get go.

A GDP number inflated by massive Govt spending and little else. Remove Fed spending with borrowed money and it's actually around 1.6%.

Cmon, your going to post that number without itemizing it as solid proof our economy grew in the third quarter?

Remember, you'll know a liberal is lying, when their mouth is moving.
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:lamoWell lets take government spending out of this most recent one too. It shows we grew by 1.23%. ****, even better, lets just lick our finger and hold it in the air to get a 'feel' for what we think the economy is doing. I'll let you mull it over, i got work in the morning.
 
Re: Economy shrinks for first time in 3 1/2 years

drz-400 said:
:lamoWell lets take government spending out of this most recent one too. It shows we grew by 1.23%. ****, even better, lets just lick our finger and hold it in the air to get a 'feel' for what we think the economy is doing. I'll let you mull it over, i got work in the morning.
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So you agree with Peebo that massive defecit spending will cause our economy to grow ? And that massive Fed spending with borrowed money is the only solution to a shrinking economy ?

......massive acute delusional event.

Where do you work ? ACORN ?
 
Re: Economy shrinks for first time in 3 1/2 years

Fenton said:
But it was BS from the get go.

A GDP number inflated by massive Govt spending and little else. Remove Fed spending with borrowed money and it's actually around 1.6%.

Cmon, your going to post that number without itemizing it as solid proof our economy grew in the third quarter?

Remember, you'll know a liberal is lying, when their mouth is moving.
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Wanna try a new angle?
 
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Re: Economy shrinks for first time in 3 1/2 years

Juiposa said:
Well yes, cutting federal spending will most certainly help cause a recession.

What do you mean by me taking personal responsibility? I live in a country were our budget is not far off from being balanced.

As a socialist I believe in none of these horse**** stereotypes you've listed. A balanced budget is needed in any gov't, socialist or free market.

The 7 or 8% unemployment is not that high, honestly. Underemployment should be a bigger issue.
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What?

This isn't a dictated economy (although Obama and the idiots he employs are trying) the government doesn't control the value of the dollar the consumer does. The private sector is our economy - all Obama is doing is neglecting that fact. Obama's neglect for the private sector created a recession.

Obama's vision of the US is nothing more than 100% government dependence. We all work for the government or work for an entity that pays 99% of their income to the government - that's what he wants.

Why the hell should the private sector partake in such nonsense?

What incentive do I have to start a business? what, so I can take home about as much or even less than an employee at Burger King while working 70 hours a week?

I'll bet some small business owners take home less than their employees do, and are in debt up to their eyeballs. Meanwhile people like you ignorant to that fact think they should "pay their fair share" just because on paper they're worth X amount.

One of these days I pray you get robbed by someone, maybe then "redistribution" will mean something to you.
 
Re: Economy shrinks for first time in 3 1/2 years

poweRob said:

Wanna try a new angle?
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The debt and budget numbers tell the true story, more debt than any other President in History done in just his first term, no budget for three years, and 3.8 trillion dollars in spending. An Obama supporter is getting exactly what they want, massive central govt, high unemployment, greater dependence, and massive debt. Congratulations, cannot wait to see how you pay for it.
 
Re: Economy shrinks for first time in 3 1/2 years

disneydude said:
Don't worry about us.....we are doing just fine....thank you. We feel sorry for the poor schmucks that don't have the same opportunities that we do.
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Absolutely the greatest place in the country to live if you make very little money, want someone else to pay for all your services, and have no problem with massive intrusion into your life by the state govt.
 
Re: Economy shrinks for first time in 3 1/2 years

Conservative said:
Absolutely the greatest place in the country to live if you make very little money, want someone else to pay for all your services, and have no problem with massive intrusion into your life by the state govt.
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You just demonstrated...that like so many other things....you know absolutely nothing about California, yet feel the need to pretend that you do. Why don't you stick with the god forsaken stinkhole called Texas and leave paradise to the rest of us.
 
Re: Economy shrinks for first time in 3 1/2 years

disneydude said:
You just demonstrated...that like so many other things....you know absolutely nothing about California, yet feel the need to pretend that you do. Why don't you stick with the god forsaken stinkhole called Texas and leave paradise to the rest of us.
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Right, people are fleeling from TX to California? Businesses are fleeing TX to California? TX is bankrupt and California is prosperous? You do indeed live in Disneyland.
 
Re: Economy shrinks for first time in 3 1/2 years

Why are left coasters so defensive about their rotting corpse of a plague State ?

Texas didn't bankrupt you idiots, you did when you kept electing liberal morons to tank your economy.

A U-haul truck from Cali to Texas is around 900 to rent.

Feom Texas to Cali, just turn the truck in and its no charge.
Lol
 
Re: Economy shrinks for first time in 3 1/2 years

Fenton said:
downward is more likely. Nothing in Obama's economy ever gets revised upward, as in things are better off than they thought.
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Last quarters GDP figures ring a bell? How about two thirds of the 2012 jobs figures? Selective attention span perhaps.
 
Re: Economy shrinks for first time in 3 1/2 years

a351 said:
Last quarters GDP figures ring a bell? How about two thirds of the 2012 jobs figures? Selective attention span perhaps.
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You really don't understand how the private sector economy works thus have no concept of what good numbers actually are?
 
Re: Economy shrinks for first time in 3 1/2 years

Conservative said:
You really don't understand how the private sector economy works thus
have no concept of what good numbers actually are?
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He's a riot. Low information voters and their priorities
 
Re: Economy shrinks for first time in 3 1/2 years

Fenton said:
A GDP number inflated by massive Govt spending and little else. Remove Fed spending with borrowed money and it's actually around 1.6%.
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3.1 -.7% equals what now? Have some self respect.
 
Re: Economy shrinks for first time in 3 1/2 years

Conservative said:
You really don't understand how the private sector economy works thus have no concept of what good numbers actually are?
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Irrelevant. The poster above claimed that positive revisions simply haven't occurred in recent history. He was incorrect.
 
Re: Economy shrinks for first time in 3 1/2 years

a351 said:
Irrelevant. The poster above claimed that positive revisions simply haven't occurred in recent history. He was incorrect.
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You think 3.1% GDP growth is a good number?
 
Re: Economy shrinks for first time in 3 1/2 years

disneydude said:
You just demonstrated...that like so many other things....you know absolutely nothing about California, yet feel the need to pretend that you do. Why don't you stick with the god forsaken stinkhole called Texas and leave paradise to the rest of us.
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So you think creating an environment that has resulted in over 30% of the nations welfare cases residing here in California is a good thing?

You think creating an environment that has resulted in the loss of over 30% in manufacturing jobs over the last 20 years is a good thing?

You think creating an economic environment that has seen unemployment ranked among the top of all states in the country over the last 4 years is a good thing?

Progressives have a very strange standard for what is good, and what paradise looks like......
 
Re: Economy shrinks for first time in 3 1/2 years

a351 said:
Certainly an average figure.
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Check out the Reagan numbers three and four years after the end of a recession similar to the one Obama had? 3.1% is truly average at best and after the very poor economy of 2008-2009 it is a disaster
 
Re: Economy shrinks for first time in 3 1/2 years

Conservative said:
Check out the Reagan numbers three and four years after the end of a recession similar to the one Obama had?

3.1% is truly average at best and after the very poor economy of 2008-2009 it is a disaster
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Reagan's recession was actually quite dissimilar, in terms of both fiscal and monetary effects.

It's average if you go by modern growth rates. Slightly above when considering the headwinds encountered.
 
Re: Economy shrinks for first time in 3 1/2 years

a351 said:
Reagan's recession was actually quite dissimilar, in terms of both fiscal and monetary effects.

It's average if you go by modern growth rates. Slightly above when considering the headwinds encountered.
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How old were you during the Reagan recession to establish your credibility. You have no idea, do you understand the misery index? Headwinds have been created by this Administration.
 
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